Ethereum

Bitmart loses $200 million in hack by unknown attackers

Bitmart, a cryptocurrency exchange, suffered an attack yesterday that exploited some security vulnerabilities in order to gain access to the funds of the exchange. The attackers targeted the platform’s hot wallets, specifically the Binance Smart Chain-based wallets and the Ethereum wallets. The hackers managed to take almost $200 million in tokens from the platform.

Bitmart Hot Wallets Exploited

Bitmart has lost more than $200 million in a hack that involved its hot wallets yesterday. The issue was first identified by Peckshield, a blockchain security and auditing company, that raised the alarm about a possible hot wallet vulnerability on social media. The involved wallets were those that held ETH and BSC-based tokens.

Bitmart representatives estimated the losses at $150 million initially, but PeckShield did an investigation of the funds taken, saying losses were around $200 million. The hacker stole significant amounts of SHIB and SAFEMOON, SAND and MANA among other things. Due to large quantities of tokens that were not liquidated on decentralized exchanges, the event had an impact on the price of certain tokens with low liquidity.

Bitmart acknowledged the situation and at the time stated that the losses due to the attack accounted for a small part of the exchange holdings. The company made the following announcement:

The affected ETH hot wallet and BSC hot wallet carries a small percentage of assets on BitMart and all of our other wallets are secure and unharmed. We are currently conducting a security review. As we move forward, we will keep you posted on any developments.

Tornado-Washed Funds

The exploiters quickly moved the funds to different platforms with the intent of mixing the cryptocurrency taken. According to Peckshield, all of the Binance Smart Chain and Ethereum tokens were exchanged for ethereum using 1inch, a decentralized exchange platform, and then were sent to Tornado.cash, an obfuscation protocol that allows users to make transactions less susceptible to tracing.

This attack on a central exchange was one of the most devastating this year. Most of the risk of exploits have moved to decentralized financial (defi), platforms. The exchange suspended all withdrawals of assets due to this situation. It is currently conducting an investigation into the platform and its vulnerabilities.

What do you think about this $200 million Bitmart exchange hack? Please leave your comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Ethereum

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Ethereum

Ethereum Price Analysis: ETH Stopped at $3.2K, is Another Major Crash Coming?

Ethereum’s recent rally has stalled at the $3.2K resistance zone, where heavy selling pressure triggered a clear rejection.

The asset is now trading within a narrow consolidation range, and the next decisive breakout is likely to dictate the following major move.

Ethereum Technical Analysis

By Shayan

The Daily Chart

Ethereum’s rebound from the $2.6K support zone extended into a key supply area, where a daily FVG converges with a long-standing downward trendline near $3.2K.

This confluence attracted significant selling interest, halting the advance and producing a sharp rejection. The pullback has also resulted in the formation of a daily lower low, keeping the broader structure tilted bearish.

With this shift, the possibility of a deeper retracement has increased, making the $2.6K support zone the primary downside target.

For now, Ethereum remains range-bound, and a breakout from this tight structure will likely determine the next dominant trend.

The 4-Hour Chart

On the 4-hour chart, Ethereum initially broke above the short-term descending trendline and pushed higher.

However, strong supply at the $3.2K region prompted a reversal, sending the price back toward a critical support area composed of a bullish order block overlapping a prior breaker block.

This layered confluence increases the likelihood of a reaction in this zone, making it a decisive level in the short term.

As a result, the market continues to fluctuate within the broader $3K–$3.6K range, suggesting that more consolidation is likely before a clear direction emerges.

Sentiment Analysis

By Shayan

The weekly liquidation heatmap shows that the recent rejection was accompanied by a sweep of the liquidity pool, which sits just below the $3032 market low, capturing buy-side liquidity.

Such liquidity grabs often precede a fresh upward leg as the market seeks higher pockets of liquidity.

At present, the next major cluster rests around the $3.3K region, acting as a natural price magnet following the recent sweep. From a supply-demand standpoint, this positions Ethereum for a short-term upward move toward that zone before any broader correction resumes.

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Ethereum

Fusaka Sparks ETH Frenzy as Buyer Aggression Reaches 4-Month High

Analysts say a break above 1.0 in the buy/sell ratio could launch Ethereum toward the $3,500 to $4,000 level.

Ethereum (ETH) traders snapped back into action this week as buyer aggression climbed to its strongest reading since early August, according to the latest Binance futures data.

The move follows the Fusaka network upgrade, activated on December 3, which appears to have shifted mood across derivatives and on-chain metrics almost immediately.

Market Sentiment Flips Following Upgrade

According to pseudonymous analyst CryptoOnchain, the Taker Buy/Sell Ratio for ETH futures on Binance jumped to 0.998, marking the metric’s highest level since early August and representing a sharp reversal from recent lows around 0.945.

“This rebound from the lows (0.945) shows that futures traders view the Fusaka update as a bullish catalyst and are actively accumulating long positions,” stated the analyst. “Although the price is still hovering around $3,130, the acceleration of this ratio has outpaced the price itself, acting as a leading indicator.”

They also noted that a break above the 1.0 level would strongly suggest the recent corrective period has ended, and kickstart a run “toward the $3,500 to $4,000 targets.”

Spot market data also seems to support the shift. As noted by Arab Chain, the Cumulative Volume Delta (CVD), which tracks net buying and selling pressure, has shown positive movements with Ethereum trying to stabilize above $3,100. This, according to the firm, points to new liquidity entering the market.

Furthermore, so-called shark wallets, holding between 1,000 and 10,000 ETH, have been key drivers, with their accumulation helping push the price to a three-week peak of $3,230 yesterday.

The upgrade was preceded by a record-setting spike in network activity on November 26, when total gas used hit 215 billion, indicating heavy pre-upgrade positioning by users and developers.

Institutional Divergence and Future Price Trajectory

While futures traders and large holders are showing renewed interest, there still exists a significant divergence in institutional demand. Data from Bitwise revealed a steep drop in purchases by public Digital Asset Treasuries (DATs).

Their monthly accumulation fell 81% from August to November 2025, dropping to 370,000 ETH last month. Observers have linked this dip to challenging market conditions that have reduced the buying power of these corporate entities.

However, some prominent commentators are staying optimistic regarding the long-term path of the world’s second-largest cryptocurrency despite this institutional cooling.

One of them, Fundstrat’s Tom Lee, while at the Binance Blockchain Week in Dubai, forecasted a potential rise to $20,000 for ETH by 2026, tied to an expected boom in real-world asset tokenization. This outlook suggests that fundamental utility, rather than short-term treasury flows, may dictate the next major cycle.

Currently, the asset is trading around $3,130, reflecting a modest 3.3% gain over the past week but remaining down about 6% for the month.

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